What is estate planning?

Estate planning is an important legal process that helps people in California plan for their future and the future of their loved ones. It involves creating documents and legal strategies to manage a person’s estate, taxes, and healthcare needs. The goal of estate planning is to ensure that a person’s wishes are followed and that the people they love are taken care of. When someone creates an estate plan, they will usually create a will that outlines how the estate will be divided and distributed among their heirs. It also covers the details of how their assets will be managed after their death. The will might cover how a person’s property and investments will be handled and distributed. It can also include instructions for healthcare decisions, including end-of-life care. An estate plan also includes the setup of trusts or other financial tools to reduce taxes and make sure the assets are properly managed. A trust is a legal arrangement in which a trustee manages assets on behalf of another person, typically a child or other beneficiary. Estate planning is a complex process and should be done with the help of a qualified lawyer. An attorney will be able to review the facts and make sure that the estate plan is properly created and executed. It is important to remember that estate planning must be regularly updated to account for changes in life circumstances or tax laws.

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What is estate planning?

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